Indian Market Outlook: The Indian Benchmark Index Nifty saw a continued selling yesterday where it fell by 128 points from its day's high of 8168 to 8040, to finally close at 8100, just above its previous day's low of 8095. FIIs continue their selling spree with a total sell worth Rs. 9616 in last 6 trading sessions. Small Cap too was under pressure yesterday and closed at 5611, below its previous day's low of 5624. Demonetization done by our PM seems to have stirred the entire country as evident from the market prices along with the FII's vicious selling in the Indian markets. Nifty major support of 8076 if breached can put pressure and markets can go to the psychological level of 7920 made during Brexit on June 24. Dollar Index has given a breakout above its 12 year high of 100.51. Strengthening Dollar and heavy FII selling in the cash market clearly signals that Dollar is being withdrawn from the country as US gets ready for an increased chances of December interest rate hike. 8076 is a critical support for Nifty, below this markets may witness further pressure.
Nifty Futures is expected to open at 8086 as per SGX Nifty at 8:30 am IST, which is 14 points below its previous close of 8100.
Open Interest Index F&O and Cash Segment Activity:
In cash segment, last trading day, FII have sold shares worth Rs. 983.93 Cr and DII bought shares worth Rs. 1144 Cr. A combined buy of Rs. 160.20 Cr. For this expiry, FII and DII together are sellers worth Rs. 2305 Cr.
In Index Options, last trading day, FII have sold 23970 contracts, above its 1 year average of 18280 contracts. Pro have bought 43241 contracts, above its 1 year average of 27670 contracts. Combined there has been a net buy of 19271 contracts, below its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 480311 contracts.
In Index Futures, last trading day, FII have bought 4058 contracts, below its 1 year average of 9706 contracts. Pro have sold 320 contracts, below its 1 year average of 4903 contracts. Combined there has been a net buy of 3738 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 55900 contracts.
International Market Morning Update:
Data as on 17th November 2016. The % change is taken from previous day's close.
International Markets have shown strength yesterday where S&P Futures made a high of 2185 for a second consecutive day. S&P is trading near its major resistance of all time high of 2191 along with German Dax which closed at 10733 near its recent high of 10826.
Among the Emerging Markets, the Morgan Stanley Emerging Market Index has taken a resistance of its 4 day high of 850, which was a major resistance as per Dynamiclevels. Today, the Index is 0.5% down from its yesterday's close.
Today, Japan in Asia, among the developed economies, is trading 0.84% above its previous close.
DISCLAIMER:
Research Team - Tel: 033-30010001, write to us at clientsupport@dynamiclevels.com to give feedback. Website:www.dynamiclevels.com
1. The investment advice or guidance provided by way of recommendations, reports or other ways are solely the personal views of the research team. Users are advised to use the data for the purpose of information and rely on their own judgment while making investment decision
2. Past performance is not an indicator of future returns.
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